Maize and mining woes wipe R34billion off SA’s trade surplus in one quarter
''The decline in maize exports reflects volume limits, softer prices, and trade frictions,” says Agriculture Minister John Steenhuisen, stressing the need to protect farmers and rural communities reliant on stable export demand.
Image: Phando Jikelo / Parliament of RSA
SA's trade surplus has dropped by R34bn in just one quarter, with weaker mining and maize exports driving the fall.
Agriculture minister John Steenhuisen said the decline — from R211bn to R177.1bn — was especially worrying for maize, a crop central to food security and foreign earnings.
The figures are from the SA Reserve Bank’s latest balance of payments report, covering the first and second quarters of 2025.
Steenhuisen said while the agricultural sector alone cannot resolve the country’s trade balance issues, it remains uniquely positioned to drive stabilisation and growth through rural employment, inclusive economic development, and foreign exchange earnings.
“The observed decline in maize export value during the second quarter reflects a combination of volume constraints, softer international prices, and rising trade frictions globally,” Steenhuisen said.
“This is not only a concern for the balance of payments, but also for the farmers, agribusinesses, and rural communities whose livelihoods depend on stable and expanding export demand.”
Despite the challenges, he said, the agricultural sector continues to demonstrate resilience.
In the lead-up to the US’s 30% tariff imposition on SA agricultural products, exports grew by 10% year-on-year in the last quarter to US$3.71bn.
Key contributors included citrus, apples, pears, maize, wine, nuts, and other fruit products.
Statistics South Africa data further revealed a 2.5% growth in agriculture during the second quarter of 2025, driven mainly by increased activity in horticulture and animal products, said Steenhuisen.
The sector’s vulnerability to external shocks remains evident.
Steenhuisen pointed to the impact of protectionist measures, such as the recent 30% US tariff on South African agricultural exports, which affects high-value products like citrus, macadamias, and wine.
“These new tariffs place undue strain on citrus growers, macadamia exporters, and wine producers who had invested in building market share in the US over the past decade,” he said.
In response, Steenhuisen said his department was intensifying collaboration with the Departments of Trade, Industry and Competition, and International Relations and Cooperation to safeguard market access.
The department was also working to diversify export markets, with new bilateral phytosanitary agreements being finalised to expand access to China for avocados, India for fresh produce, Japan for grain products, and the Middle East for beef, he said.
“These efforts are backed by strategic investments in cold chain infrastructure, export compliance systems, and the biosecurity capabilities required to maintain our international reputation for safe, high-quality produce,” Steenhuisen said.
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